Offshore Drilling Riser: Market Overview
Offshore drilling riser is a large diameter pipe, which acts as a conduit between the subsea blowout preventer (BOP) stack and the drilling facilities, like rig platform, or submersible rig, located above the seafloor. An offshore drilling riser is often considered as a temporary extension of the wellbore to the surface.
Offshore drilling riser transmits the drilling mud from the well to the rig facility and ensure the drilling fluids do not leak onto the seafloor.Offshore drilling risers, also acts as medium to guide downhole tools like drill string and other drilling tools, allow flow of drilling chemicals, and to carry BOP during run-in or retrieval.
They are also used to run kill and choke lines for BOP, through the outside of riser, along with a number of other axillary lines. Offshore drilling risers can weigh up to 30 tons with a length of 75 ft and range up to 20 inches in outside diameter.
Offshore drilling risers are usually categorized into two different types, marine drilling riser and tie-back drilling riser. Marine drilling risers are deployed from floating drilling vessels and are used with subsea BOP, while the tie-back drilling riser is deployed from fixed drilling platforms with surface BOP.
The operation and design of marine drilling risers are complex and hence incur heavy costs and design analysis, while a tie-back drilling riser is a simplified form of marine drilling riser. The type of offshore drilling riser is chosen based on the complexity of subsea installation systems and water depth.
Offshore Drilling Riser: Market Dynamics
Recovering crude oil prices have been driving investments in offshore exploration and production (E&P) activities around the world. A significant uptick in the number of final investment decision for a number of offshore projects has been prominent over the past couple of years, which has been driving the contracts for offshore drilling risers.
Emergence of integrated service providers, who provide both design engineering and installation services has been a prominent trend, as they help reduce the overall cost of the project to E&P operators.
Unstable crude oil prices and widening growing crude oil supply-demand gap are anticipated to hamper the growth prospects of the offshore drilling riser market in the foreseeable future.
Offshore Drilling Riser Market: Regional Outlook
Advancements in shale gas production, and the growing number of offshore projects in the Gulf of Mexico is anticipated to position North America as the global leader in the offshore drilling riser market.
With the crude oil prices stabilizing, offshore activity in the North Sea region has been witnessing a significant surge, which is expected to drive the demand for offshore drilling riser market in the U.K. and Norway regions.
Growing number of offshore discoveries in Iran, Nigeria, South Africa, Egypt, Guyana, and Mozambique are expected to create significant growth opportunities for offshore drilling riser manufacturers in the Middle East & Africa region.
Although Latin America is plagues with political and economic instability, the presence of a large number of undeveloped offshore fields is expected to drive the demand for offshore drilling risers in countries like Argentina, Brazil, Mexico and Venezuela.
In Asia Pacific region, China and ASEAN countries are actively exploring offshore projects in the South China Sea region, and hence the region is anticipated to create a robust growth in demand for offshore drilling risers in the coming years.
Offshore Drilling Riser Market: Market Participants
Some of the key market participants identified in the Offshore Drilling Riser market across the globe are:
- Schlumberger Limited
- Aker Solutions
- Parker Hannifin Corp
- Dril-Quip, Inc.
- Baker Hughes, a GE Company LLC
- Claxton Engineering
- SUBSEA 7
- TechnipFMC plc
Brief Approach to Research
The research report presents a comprehensive assessment of the Offshore Drilling Riser market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Offshore Drilling Riser market segments such as geographies, diameter, type and water depth.
The report covers exhaustive analysis on:
- Offshore Drilling Riser Market Segments
- Offshore Drilling Riser Market Dynamics
- Offshore Drilling Riser Market Size
- Offshore Drilling Riser Supply & Demand
- Offshore Drilling Riser Current Trends/Issues/Challenges
- Offshore Drilling Riser Competition & Companies involved
- Offshore Drilling Riser Technology
- Offshore Drilling Riser Value Chain
Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordics)
- Eastern Europe (Russia, Poland, CIS)
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with Offshore Drilling Riser market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Offshore Drilling Riser market segments and geographies.
- Detailed overview of Offshore Drilling Riser’ parent market
- Changing Offshore Drilling Riser market dynamics in the industry
- In-depth Offshore Drilling Riser market segmentation
- Historical, current and projected Offshore Drilling Riser market size in terms of volume and value
- Offshore Drilling Riser recent industry trends and developments
- Offshore Drilling Riser competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth in Offshore Drilling Riser market
- A neutral perspective on Offshore Drilling Riser market performance
- Must-have information for Offshore Drilling Riser market players to sustain and enhance their market footprint
Offshore Drilling Riser: Market Segmentation
The overall offshore drilling riser market can been segmented on the basis of type as:
- Marine drilling riser
- Tie-back drilling riser
The overall offshore drilling riser market can been segmented on the basis of diameter as:
- Less than 10 inch
- 10 to 15 inch
- Above 15 inch
The overall offshore drilling riser market can been segmented on the basis of water depth as:
- Shallow water
- Deep water
- Ultra deep water
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.